Leonid Capital Partners has received a credit facility worth $200 million from Chicago-based global alternative investment firm Victory Park Capital and will use it to support its inaugural institutional fund and a portfolio of loans to defense contractors.
LCP is a Huntington Beach, California-based specialty credit fund founded in 2019 and is focused on providing credit for small- and medium-sized companies doing business with the Department of Defense in the areas of software, engineering and biotechnology, the companies said in a joint release published Thursday.
Most loans that LCP provides support the federal government’s Small Business Innovation Research Small Business Technology Transfer programs.
Chris Lay, founding partner of LCP, said the credit fund has a mission to support scientists, innovators and engineers who are in need of capital to conduct research and develop technologies in support of national security missions.
âGovernment contractors often cannot access loans from traditional capital sources, and with the help of VPC, we are proud to be able to support early-stage businesses whose work aids and empowers those who serve and protect our great nation,â added Lay.
